Else Nutrition Holdings Inc (BABYF)

[BruceLake]

Without context it's easy to make statements to further one's agenda. Yes it is true that Michael McCain the CEO of Maple Leaf Foods said what he said about plant based foods being an "expensive novelty". Of course one has to question why a CEO would make such a seemingly damming statement about products that in 2019 & 2020 experienced 59% & 75% growth rates respectively and grew by only 1% in 2021.

Anyone that knows anything about Maple Leaf Foods realize that their only interest in plant based products was to protect their market share and make up for their dwindling sales in their core base meat products. Reality is that Michael McCain would like to see nothing more than waning interest in plant based foods.

Notwithstanding the above, Mr. McCain, after realizing his previous idiotic remark goes on to make the following statement:

It’s clear that the category can’t be expected to grow at the spectacular rates that we saw in 2019 and 2020. Instead, we expect the category will continue to grow, albeit at a more moderate but still attractive pace of 10 to 15 per cent.

It is always advisable that before jumping to conclusions one takes a broader view and a close look at the circumstances.

https://techilive.in/beyond-meat-takes-a-beating-as-plant-based-sector-reports-slowing-sales/